Monogram Orthopaedics Inc. (NASDAQ:MGRM) Short Interest Down 26.1% in August

Key Points

• Short interest in Monogram Orthopaedics Inc. declined by 26.1% in August, with a total of 154,800 shares reported as short sold, equating to 0.8% of the company's stock.
• Institutional investors have shown increased interest, with Jane Street Group LLC and Crestwood Advisors Group LLC each making new purchases, while Northern Trust Corp boosted its stake by 110.6%.
• The company's stock rose 0.8% to $5.84 during midday trading, and it has experienced a significant increase to a market cap of $237.08 million.

Monogram Orthopaedics Inc. (NASDAQ:MGRM - Get Free Report) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 154,800 shares, a decrease of 26.1% from the August 15th total of 209,400 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average daily trading volume, of 362,400 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily trading volume, of 362,400 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.8% of the shares of the company are short sold.

Institutional Trading of Monogram Orthopaedics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Orion Porfolio Solutions LLC increased its holdings in Monogram Orthopaedics by 15.4% during the second quarter. Orion Porfolio Solutions LLC now owns 13,850 shares of the company's stock valued at $40,000 after buying an additional 1,850 shares during the period. Jane Street Group LLC grew its holdings in shares of Monogram Orthopaedics by 83.0% during the first quarter. Jane Street Group LLC now owns 19,426 shares of the company's stock valued at $57,000 after buying an additional 8,810 shares during the last quarter. Crestwood Advisors Group LLC purchased a new stake in shares of Monogram Orthopaedics during the second quarter valued at $29,000. Focus Partners Advisor Solutions LLC boosted its holdings in Monogram Orthopaedics by 6.1% in the first quarter. Focus Partners Advisor Solutions LLC now owns 213,678 shares of the company's stock valued at $628,000 after purchasing an additional 12,328 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Monogram Orthopaedics by 110.6% in the fourth quarter. Northern Trust Corp now owns 45,873 shares of the company's stock valued at $109,000 after purchasing an additional 24,088 shares during the last quarter. Institutional investors own 0.45% of the company's stock.

Monogram Orthopaedics Trading Up 1.2%

Monogram Orthopaedics stock traded up $0.07 during trading on Friday, reaching $5.84. The company had a trading volume of 158,293 shares, compared to its average volume of 90,742. Monogram Orthopaedics has a 52 week low of $1.92 and a 52 week high of $6.02. The firm's 50-day simple moving average is $5.63 and its 200 day simple moving average is $3.75. The firm has a market capitalization of $237.29 million, a price-to-earnings ratio of -11.68 and a beta of 0.69.

Monogram Orthopaedics (NASDAQ:MGRM - Get Free Report) last issued its quarterly earnings results on Friday, August 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05). On average, analysts predict that Monogram Orthopaedics will post -0.49 earnings per share for the current year.

Monogram Orthopaedics Company Profile

Monogram Orthopaedics, Inc focuses on developing a product solution architecture to enable patient-optimized orthopaedic implants. The company intends to produce and market robotic surgical equipment and related software, orthopedic implants, tissue ablation tools, navigation consumables, and other miscellaneous instrumentation for use in reconstructive joint replacement procedures.